Is your company ready for iGen?

iGen, or generation Z, is the demographic cohort born between the mid-90s and mid-2000s. Over the next few years, this group will flood into the workforce.

Recruitment methods that worked with previous generations may not work as well with iGen. How will their needs differ from the current workforce and what will they expect from their employers? Find out the type of work environment, job opportunities and benefit plan options that will entice this group of individuals.

Work environment

Two key characteristics of this generation have a large impact on what they seek in their ideal work environment:

  1. Digitally minded: Unlike their millennial predecessors, iGen are true digital natives. They’ve never known a world without Internet and instant connectivity.
  2. Financial instability: iGen employees will graduate with larger rates of student debt than previous generations.

As such, iGen workers will prefer tech-centred work environments with flexibility that eases the strain on their finances. They may prefer organizations that encourage:

  • Casual attire to help reduce wardrobe costs
  • Options to work remotely with flexible work hours
  • Transit and commuting options, as well as healthy food options at a lower cost
  • Dynamic and innovative office spaces that foster creativity and agile work
  • Interacting through social media and instant messaging platforms

Job opportunities and compensation

This generation grew up in less financially stable times than their millennial predecessors and this is reflected in their values. They watched their parents struggle through a recession and, as a result, are willing to learn, try new things and work hard.

Although they aren’t as concerned with high wages for entry level positions, they’ll look for employers who offer job security and the potential for advancement into higher paying roles.

Personal development opportunities are also important to iGen. They’ll value learning and development programs they can complete on their own terms, any time and anywhere.

Benefit and rewards plans

Being true to their digital nature, iGen will want less face-to-face social interaction and will have less self-confidence than previous generations. This means that they will expect the ability to engage largely via digital communication. Benefit and rewards plans that include access to the following options may give employers an edge when it comes to recruiting iGen staff:

  • Virtual mental health counseling and telemedicine programs that provide convenient, mobile-friendly services
  • Virtual health tracking and coaching
  • Advice from financial planners
  • Automatic payroll deductions to pay off student loans
  • Health and Lifestyle spending accounts that allow them to expense things like life coaches, gym memberships and alternative forms of therapy

To learn more about how you can align your benefits program with iGen, contact your Group Benefits Advisor.